Chief Economic Adviser (CEA) K V Subramanian on Tuesday said India is expected to log double-digit growth in the current financial year, aided by rising demand and a robust banking sector. He also said the seminal second generation reforms would help the country grow over 7 per cent during this decade.
India’s GDP growth stood at 8.4 per cent in the second quarter of 2021-22, with the economy surpassing the pre-COVID level, official data showed on Tuesday. With regard to fiscal deficit, he said the Budget estimate is likely to be met.
The government estimates fiscal deficit at 6.8 per cent of the gross domestic product (GDP) for the current financial year ending on March 31, 2022.